Presentation on theme: "Imperialism: A Product of Atavism"— Presentation transcript:
1 Imperialism: A Product of Atavism Joseph SchumpeterImperialism: A Product of Atavism
2 Intellectual Environment of Schumpeter Marginalist Revolution ( )and Austrian School of EconomistsEugen von Böhm-Bawerk and Friedrich von WieserLeon Walrus and Equilibrium TheoryAustro Marxian School
3 Elite theories of Social Organization Vilfredo Pareto (15 July, 1848, -August 19, 1923 )Trattato di sociologia generale (1916)Robert Michels ( 9, Jan. 1876, Cologne,- 3 May, 1936 )Political Parties: A Sociological Study of the Oligarchical Tendencies of Modern DemocracyGaetano Mosca ( 1 April November 1941)The Ruling Class (1896)
4 Schumpeter A Defender of Rational Capitalism A Lawyer turned Professor at CzernowitzTheory of economic Development (1911)Founder of the Theory of EntrepreneurshipTheory of The Theory of Economic Development: An inquiry into profits, capital, credit, interest and the business cycle , 1911.Economic Doctrine and Method: An historical sketch, 1914.
5 Schumpeter as a Politician and an Academic German Socialization CommitteeKiel School of Economists and German Marxists Such Kautsky and HilferdingBrief Tenure as Austrian Minister of Finance in 1919President of Bank and Professorship at BonnHarvard University in 1932Mentor of Paul Samuelson
6 Veblen and German State Influence of Thorstein VeblenImperial Germany and the Industrial Revolution (1915)Comparison between Germany BritainThe Idea of dynastic StateEnd of Dynastic State
7 Schumpeter’s Idea of Imperialism Influence of Economic Interpretation of HistoryProving Marxists Wrong.Imperialism is the object-less disposition of a state to expansion by force without assigned limits.Imperialism benefits a small clique.
8 Main Features of Schumpeter’s Thesis Historical force of non-rational and irrational, purely instinctive inclinations to war and conquestConsolidation of Class of WarriorsInternal Relationships and dominant positions of such a group in political and economic structureImperialism is an atavism
9 Capitalism as an anti imperialist political economic system Imperialism a Legacy of Monarchical StateCapitalism as a rational economic system opposed to direct imperial conquestDismantling of the special Interest GroupsPacific Capitalism
10 Weaknesses of Schumpeter’s Thesis Too Deeply Embedded in Continental ContextFailure to see new world wide context of EmpireForeign Trade led to EmpireThe Idea of Informal Economic HegemonyPredictions of Modern International Order